Abu Dhabi, UAE – September 03, 2026 -- ePointZero will acquire a 90% stake in Azura Power Holdings Limited, a pan-African independent power producer with 752 MW of operating capacity across Nigeria, Senegal and Mozambique.
ePointZero buys out Actis and Africa50 stakes via new acquisition vehicle
ePointZero has partnered with Amaya Capital, Azura Power's founding partner, to establish an acquisition vehicle through which it will take over the respective ownership stakes held by Actis and Africa50. Amaya Capital, which founded Azura Power in 2010, will retain a 10% minority interest. The deal remains subject to customary regulatory approvals and closing conditions.
Azura Power generates roughly 10% of grid baseload in three countries
Azura Power operates three assets: Azura-Edo (461 MW, Nigeria), Tobene (116 MW, Senegal) and CTRG (175 MW, Mozambique), each located in major natural gas reserve markets. The company generates around 10% of each country's grid baseload power and holds a development pipeline exceeding 1.5GW of gas, renewable and battery storage projects that could more than double its operational capacity.
Sub-Saharan Africa electricity access remains near 55%, World Bank data shows
Electricity demand across Africa is expected to nearly double by 2040, according to the release, while electricity access across Sub-Saharan Africa remains at roughly 55%, per World Bank figures. Azura Power's projects have drawn financing from development finance institutions including the World Bank, BII, DEG, DFC, FMO, IFC, MIGA and Proparco.
ePointZero links Azura deal to existing Elsewedy Electric investment
Mohamed Hesham, CEO of ePointZero, said the Azura Power acquisition, combined with the company's strategic investment in Elsewedy Electric's industrial and EPC presence across Africa, deepens ePointZero's capabilities in energy and infrastructure on the continent. ePointZero is a subsidiary of 2PointZero Group, headquartered in the UAE.
Dave Peacock, Group CEO of Azura Power, said the transaction marks a milestone after a decade of operations and positions the company to broaden its opportunity set and accelerate growth across Africa's energy sector.